The price of tea has increased by 25% calculate the percentage of tea consumption that is to be decreased if there is no change in the amount spent on tea for a household.
How do i solve this question?
Originally posted by Nathpoop:The price of tea has increased by 25% calculate the percentage of tea consumption that is to be decreased if there is no change in the amount spent on tea for a household.
How do i solve this question?
Should be 20% i think.
Cost of tea gone up so you get 125% of the cost. To bring down the cost back to 100%, you need reduce it by 25% so 25/125 is 20%.
erm... TS really dun know?
Originally posted by caleb_chiang:erm... TS really dun know?
I don't understand the question, don't get it.
Originally posted by Nathpoop:The price of tea has increased by 25% calculate the percentage of tea consumption that is to be decreased if there is no change in the amount spent on tea for a household.
How do i solve this question?
Hi,
Let x be the price of tea and y be the consumption.
Then the amount spent on tea is given by xy.
Since the price of tea has increased by 25%, the new price of tea is 5/4 x.
For the amount spent to remain at xy, we will then need the consumption to drop to 4/5 y.
Thus, the consumption has to be decreased by 20%.
Thanks!
Cheers,
Wen Shih